Series 7 exam review
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I am getting prepared to take the series 7 exam and just wondering if anyone has any recommendations for study materials? I am looking for a combination of general reading, practice questions and online materials. any other general info would also be appreciated
thanks mooose
I would go with STC material. Dearborn or Kaplan- what ever the hell they call themselves- present excessive material. STC is clear and concise..
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Skim trough the book one time, take some notes, and then do practice questions. When you miss a question, and there will be a lot the first time trough, go back and read the concept behind the question; try to pinpoint where your rational is skewed; and then write out the question with the correct answer.
Be careful mot to memorize the questions! The key understanding the material, not strict memorization.
Study this way and you will bang out a minimum of 80%…..
Gook luck
DirtyDelta
[quote=DirtyDeltaBro]
I would go with STC material. Dearborn or Kaplan- what ever the hell they call themselves- present excessive material. STC is clear and concise…
Skim trough the book one time, take some notes, and then do practice questions. When you miss a question, and there will be a lot the first time trough, go back and read the concept behind the question; try to pinpoint where your rational is skewed; and then write out the question with the correct answer.
Be careful mot to memorize the questions! The key understanding the material, not strict memorization.
Study this way and you will bang out a minimum of 80%…..
Gook luck
DirtyDelta
[/quote]There is a lot of regulatory stuff that has to be memorized. Options are conceptual, but everything else is pretty much memorization.
The regulatory stuff can be memorized- I agree.
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If you don’t have a good understanding of munies and options- you will fail. I don’t care how smart you think you are, or how much you study, a sure recipe for failure is to take this exam having only memorized a few key points about these two sections..
[quote=DirtyDeltaBro]
The regulatory stuff can be memorized- I agree.
If you don’t have a good understanding of munies and options- you will fail. I don’t care how smart you think you are, or how much you study, a sure recipe for failure is to take this exam having only memorized a few key points about these two sections..
[/quote]I never said anything about only memorizing a few key points. Personally, I wouldn't go into the exam until I knew and understood 100% of every question in every section of the STC material. That's about 2200 questions. However, to me, it's all memorization, except for the basic concepts of options, which are really simple.
The hardest part for me to keep straight are all of the different margin requirement rules. For example, there are different rules for going long vs. going short. Different rules for initial positions vs. subsequent positions. Different rules if a stock is more than $5 a share vs. less than $5 a share, etc.
I took the exam a couple years ago and I probably had less than 5 questions on Margins - don’t worry. Concentrate on Options and Debt securities.
Forget debt securities except muni’s…options, muni’s, and underwriting are where its at.